Credit card ABS quality improved moderately in 2Q12 despite the sluggish U.S. economy and the 8.2% unemployment rate, Standard & Poor's said in a report released yesterday.

Stern Agee predicted that if rates stay low MSR values will be “written down again” in the fall.

Though FHA's current book of business will perform much better than loans written before 2009, it may have recapitalized too quickly through higher premiums.

The deal's collateral was close to five years seasoned and included new origination 10-year product that usually forms part of Fannie's offerings.

The Consumer Financial Protection Agency (CFPB) Friday issued two proposed rules designed to make mortgage servicing more consumer friendly, giving borrowers advanced notice of interest rate adjustments and how to avoid costly forced-placed insurance.

Most of the trigger breaches arose in deals exposed to banks downgraded below ‘P-1.’

The Carlyle Group will back The TCW Group in a purchase that would garner roughly 40% interest from its Paris-based parent company.

The 30-year fixed rate averaged 3.59% for the week ending Aug. 9, up four basis points from last week.

The pilot program will be offered to roughly 500 distressed homeowners to keep them in their homes.

The changes considered tail risk and stressed the backend of structures, said S&P MD Vandana Sharma in a conference call today.

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 7.58%.

Standard & Poor’s warned that the entrance of new and lesser known special servicing operations can overcrowd the market and complicate the servicing process.